It's a great time to be a landlord in the Bay Area. If you were lucky enough to buy an investment property this year, you've got a chance to start a strong secondary stream of income.
Being a landlord isn't as easy as it looks though. If you want to get a good return on your investment, you have to put a lot of time and effort into it. This is where a full-service property management company can help.
We're here to discuss 4 services that any good property manager can offer you.
1. Marketing Your Property
If you're brand new to owning a rental property and you also have a "day job," marketing might seem impossible. It's a full-time job to manage social media accounts and a website for marketing purposes, not to mention the time that you have to set aside to take great photos and list your properties on various rental websites.
A good property management company can handle all of those tasks for you. They'll make sure that your property gets in front of the eyes of as many potential tenants as possible. This helps you keep your vacancies brief so you can keep making money on your rental properties.
2. Tenant Screening
Getting attention from prospective tenants isn't enough. You have to get the right tenants, and that means you need to screen them.
Screening tenants isn't as easy as it seems. True, tenants will self-screen based on your property listing, but you may still have a hard time finding the ideal tenant.
A full-service property management company has plenty of experience with tenant screening. They can talk to tenants individually, run background checks, and even see when a tenant who may not meet the qualifications on paper will actually be a perfect fit.
3. Rent Collection
Rent collection is an essential part of being a landlord, but that doesn't mean that it's easy. You have to keep up with your tenants, send out reminder notices, and keep track of all of that money. You also have to deal with security deposits.
Your property management company can step in and handle most of that work for you. They can even set up a tenant portal to make rent payments a breeze.
If you don't keep a well-maintained property, you won't be able to find high-quality tenants and you may end up spending a lot of money on emergency repairs. If you're not handy, you can't take care of maintenance on your own. Also, you may not have a relationship with local contractors who can help.
Again, your property management company will step in to save the day. They can handle tenant maintenance requests for you and make sure that someone's there to fix the problem right away.
Do You Need Full-Service Property Management?
Full-service property management services will make your life as a property investor so much easier. Instead of doing everyone on your own, why not have a professional take care of it for you?
At Blue Line Property Management, we're here to help. Contact us to learn more about our property management services today.